DP World and Canadian fund commit additional $4.5bn to port investment platform
Dubai-based port operator DP World and its Canadian partner Caisse de dépôt et placement du Québec (CDPQ), an institutional investor, have committed an additional $4.5bn investment to expand the ports and terminal network they own and operate.
The additional funds will raise the combined investment by the two parties to $8.2bn. DP World owns 55% of the investment platform while CDPQ holds the remaining 45%.
Since its launch in December 2016, the platform has invested in 10 terminals globally and across various stages of the asset life cycle.
DP World will use the fresh funds to expand its footprint in existing geographies, as well as new regions such as Europe and Asia Pacific.
The investment platform will pursue its deployment and diversification objectives by expanding across a wider part of the integrated marine supply chain, such as logistics services linked to terminals.
“The opportunity landscape for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain,” said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
“Best-in-class well connected ports and efficient supply chains will continue to play an active role in advancing global trade and cultivating the business environments closest to their operations. We look forward to working together on new investments that will connect key international trade locations worldwide,” Bin Sulayem added.
